Phase-shifting profilometry (PSP) is considered to be the most accurate technique for phase retrieval with fringe projection profilometry (FPP) systems. However, PSP requires that multiple phase-shifted fringe patterns be acquired, usually sequentially, which has limited PSP to static or quasi-static imaging. In this paper, we introduce multispectral 4-step phase-shifting FPP that provides 3D imaging using a single acquisition. The method enables real-time profilometry applications. A single frame provides all four phase-shifted fringe patterns needed for the PSP phase retrieval algorithm. The multispectral nature of the system ensures that light does not leak between the spectral bands, which is a common problem in simultaneous phase-shifting with color cameras. With the use of this new concept, custom composite patterns containing multiple patterns can be acquired with a single acquisition.